secwatch.observer — SEC 8-K summary
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Issuer:     BLACKBAUD INC (BLKB)
CIK:        0001280058
Form:       8-K
Filed at:   2025-03-13T23:59:59+00:00
Accession:  0001280058-25-000014
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blackbaud amends CEO Gianoni's bonus to equity-based; modifies severance terms
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- Annual bonus switches from cash to restricted stock/RSUs; target 100% of base salary (range 0-200%).
- In non-cause/good reason termination, severance bonus now based on average grant-date fair value of prior two years' vested equity bonuses.
- New COBRA premium reimbursement for up to 12 months added for change-in-control termination.
- Death/disability termination now includes accelerated vesting of all unvested equity (including bonus) at actual or target performance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1280058/000128005825000014/0001280058-25-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1280058/000128005825000014/blkb-20250310.htm
  HTML page:      https://secwatch.observer/filing/0001280058-25-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer